QUESTION
Father dies and gives one daughter charge over Joint account; this daughter tells the sisters and brothers they are out is that legal?
Asked on May 26th, 2013 on Estate Planning - Michigan
More details to this question:
Father died and left one daughter in charge of Joint account and this daughter is Power of Attorney over the mother and this daughter tells all the sisters and brothers that they have no rights and when the mother dies that they will still have no say and that she will be fully in charge of all monies then too?
13 ANSWERS
Probate Attorney serving Newport, OR
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Minor, Bandonis & Haggerty P.C.
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If daughter is a joint owner of the joint account, then it is hers when the other joint owners pass away (unless others can see her and prove that this was not the parents' intent). Power of attorney does not make the daughter god; in fact, it gives her more responsibilities than rights. See a lawyer and get started roping this girl down now; after she steals everything it will be much harder to undo the damage.
Answered on May 29th, 2013 at 5:27 AM
Estate Planning Attorney serving Wilmington, DE
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Reger Rizzo & Darnall, LLP
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If daughter has mothers power of attorney she can act for mother. If she was named as Executor of father's will she has authority over his Estate. However, she is still held liable if she does not act in a reasonable manner and/or misuses assets.
Answered on May 28th, 2013 at 11:09 AM
Commercial Contracts Attorney serving Boise, ID
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Peters Law, PLLC
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Very possibly. However, someone may want to open a probate estate for dad to find out what assets there are besides the account. Also, if sis is using the POA to enrich herself, someone may want to open a guardianship and conservatorship for mom to take control away from sis.
Answered on May 28th, 2013 at 11:08 AM
Litigation Attorney serving St. Louis, MO
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Probate Law Center Richard J. Keyes, PC
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In Missouri, by operation of law, if it is a joint account between father and daughter, the daughter gets everything in the account when Father dies. If the account is a joint account between the mother and daughter, mother can revoke the power of attorney and close the account. She can then open a new account, and have it payable on death to all her children. Then, each of the children would get an equal amount from the account.
Answered on May 28th, 2013 at 9:40 AM
Estate Planning Attorney serving Torrance, CA
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The Law Office of Kelvin Green
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If she is listed as a Joint owner on the account and the other owners die, the account by law passes to joint owner outside of probate. However if there is was other intent there and it was listed in the will . I assume the account has Mom's name on it, she can help decide. The POA can be used but this does not mean MOM can't make decisions unless she is incapable you should have a sit down with Mom and sister before this gets ugly
Answered on May 28th, 2013 at 9:39 AM
A power of attorney only lasts as long as the person is alive and is only to be exercised in the fashion of how the grantor would want acts done. It is best if you can get your mother to rescind the power of attorney. You need to check with the bank as to what power she was given over the account and whether it was put in her name jointly so that she inherited it.? You probably are going to need an attorney to review all the estate papers and facts and tell you what you can do.
Answered on May 28th, 2013 at 9:39 AM
If the bank account was truly joint then it belongs to the survivor. However, there are a number of accounts with more than one name on it and their disposition depends upon the type. You should consult a probate attorney and review all of the documents and facts and advise you how to proceed.
Answered on May 28th, 2013 at 9:38 AM
Power of attorney authority ends when the person granting the power dies. If your mother did not grant power of attorney to your sister, your sister doesn't have any authority over your mother's share of the account. You don't say whose names are one the joint account or whether your father had a will, so it's difficult to say whether or not your sister has as much control over the account as she claims.
Answered on May 28th, 2013 at 9:38 AM
Taxation Law Attorney serving Glendale, CA
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Irsfeld, Irsfeld & Younger LLP
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"Joint account" between whom? Father and mother? Father and daughter? All 3? It it was a joint account of father and mother, it now belongs to mother. Power of attorney usually does not include power to make gifts or power to make a will. When mother dies, the power of attorney will expire. Anything left will go according to mother's will, if any. If none, then equally to all children. Get a copy of the power of attorney. If you think she is exercising undue influence over mother, or if she is isolating mother from the rest of you, consider either (a) getting a conservator ship, or (b) having that daughter removed.
Answered on May 28th, 2013 at 12:10 AM
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That is probably correct if the account was established as a joint tenancy while your father was competent. If she used the power of attorney to establish he account in that manner, then she may not be correct. To address the specific facts of your case you should speak to an attorney about your facts. A forum such as this is just for general information. Best of luck to you.
Answered on May 28th, 2013 at 12:08 AM
Trusts Attorney serving Sacramento, CA
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Law Office of Victor Waid
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Suggest you obtain probate litigation counsel to obtain an interview with the mother, to terminate the joint account and the power of attorney; at least half of the account belongs to your mother or maybe all of the account as a result of your father's death; and the power of attorney can be revoked at any time or amended to name someone else. DONOTDELAY as you don't know when mother will die, and get this problem taken care of.
Answered on May 28th, 2013 at 12:04 AM
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Your question is not clear and you really should at least have a consultation with an estate planning/elder law attorney so you can understand your rights. If the daughter is on a JOINT account, it will be hers when the joint owner dies. If there is any elder abuse or undue influence issues, now may be the time to raise them before the money is gone.
Answered on May 28th, 2013 at 12:01 AM
Business Planning Attorney serving Livonia, MI
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Frederick & Frederick Attorneys at Law
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Yes, it is legal. It is most likely an example of poor estate planning. Unless the intent is for that one child to have the entire estate, then this is not the way to set things up. Since this is what has been done, you are stuck with it, unless your parents are willing to change the estate plan, and they have the capacity to do so.
Answered on May 27th, 2013 at 10:13 PM